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John Roque: S&P Could Re-Test 950

Technical analyst John Roque tells us a pattern in the S&P is emerging that looks rather ominous, to say the least.

”Looking at a monthly chart going back to 1994 there’s an eerie similarity to what happened in 2000 and in 2008,” he says.

”We’re seeing a break in the trend line, a lower high in the momentum indicator and a downward slope in the 12-month moving average. These are negative signs,” Roque says.

What does he make of it?

”We think there’s a chance the market tests 950,” he says. Get all the details. Watch the video now!



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Trader disclosure: On Sep 6 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU)

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